Hsbc Holdings PLC Boosts Stock Position in iTeos Therapeutics, Inc. $ITOS

Key Points

• Hsbc Holdings PLC increased its stake in iTeos Therapeutics by 62.4%, acquiring 76,993 shares valued at approximately $458,000.
• iTeos Therapeutics reported a loss of $1.51 per share in its latest quarterly earnings, missing the consensus estimate of ($1.12).
• Institutional investors own 97.16% of iTeos Therapeutics, highlighting significant interest from large financial entities.

Hsbc Holdings PLC boosted its position in iTeos Therapeutics, Inc. (NASDAQ:ITOS - Free Report) by 62.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,993 shares of the company's stock after buying an additional 29,587 shares during the period. Hsbc Holdings PLC owned approximately 0.20% of iTeos Therapeutics worth $458,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. boosted its stake in iTeos Therapeutics by 347.9% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 922,134 shares of the company's stock valued at $7,082,000 after purchasing an additional 716,271 shares during the last quarter. Millennium Management LLC increased its holdings in iTeos Therapeutics by 1,008.8% during the 4th quarter. Millennium Management LLC now owns 411,072 shares of the company's stock worth $3,157,000 after purchasing an additional 373,999 shares in the last quarter. Nuveen LLC bought a new stake in iTeos Therapeutics during the 1st quarter worth approximately $1,813,000. Dimensional Fund Advisors LP increased its holdings in iTeos Therapeutics by 15.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,210,080 shares of the company's stock worth $9,293,000 after purchasing an additional 163,880 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in iTeos Therapeutics during the 4th quarter worth approximately $1,159,000. 97.16% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ITOS has been the subject of a number of recent research reports. Piper Sandler lowered iTeos Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Monday, July 21st. Wall Street Zen raised iTeos Therapeutics to a "sell" rating in a report on Saturday, August 30th. Raymond James Financial set a $12.00 price objective on iTeos Therapeutics in a report on Wednesday, May 14th. Leerink Partnrs lowered iTeos Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 14th. Finally, Wells Fargo & Company reduced their target price on iTeos Therapeutics from $12.00 to $11.00 and set an "equal weight" rating for the company in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, iTeos Therapeutics presently has an average rating of "Hold" and an average price target of $15.50.

Insiders Place Their Bets

In other iTeos Therapeutics news, CEO Michel Detheux sold 43,883 shares of the stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $10.02, for a total transaction of $439,707.66. Following the completion of the transaction, the chief executive officer directly owned 153,903 shares of the company's stock, valued at approximately $1,542,108.06. This represents a 22.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 96,165 shares of company stock worth $964,096 over the last three months. 14.20% of the stock is currently owned by corporate insiders.

iTeos Therapeutics Price Performance

NASDAQ ITOS remained flat at $10.15 on Friday. The company has a fifty day moving average of $10.15 and a 200-day moving average of $8.53. iTeos Therapeutics, Inc. has a fifty-two week low of $4.80 and a fifty-two week high of $17.63. The firm has a market cap of $448.73 million, a price-to-earnings ratio of -2.17 and a beta of 1.31.

iTeos Therapeutics (NASDAQ:ITOS - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($1.51) earnings per share for the quarter, missing the consensus estimate of ($1.12) by ($0.39). Analysts anticipate that iTeos Therapeutics, Inc. will post -3.49 earnings per share for the current year.

iTeos Therapeutics Company Profile

iTeos Therapeutics, Inc is a clinical-stage biopharmaceutical company, which engages in the discovery and development of a new generation of immuno-oncology therapeutics for people living with cancer. Its pipeline includes EOS-448, Inupadenant, and EOS-984. The company was founded by Michel Detheux in April 2012 and is headquartered in Watertown, MA.